Loomis Sayles & Co. L P lowered its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 428,113 shares of the financial services provider’s stock after selling 4,687 shares during the period. Loomis Sayles & Co. L P owned about 0.69% of Pacific Premier Bancorp worth $15,926,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Pacific Premier Bancorp by 11.3% in the third quarter. BlackRock Inc. now owns 6,598,835 shares of the financial services provider’s stock valued at $245,478,000 after purchasing an additional 669,235 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Pacific Premier Bancorp by 7.0% in the third quarter. Janus Henderson Group PLC now owns 3,932,649 shares of the financial services provider’s stock valued at $146,295,000 after purchasing an additional 258,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pacific Premier Bancorp by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,084,275 shares of the financial services provider’s stock valued at $77,535,000 after purchasing an additional 7,345 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Pacific Premier Bancorp by 40.3% in the third quarter. Victory Capital Management Inc. now owns 1,292,454 shares of the financial services provider’s stock valued at $48,079,000 after purchasing an additional 371,371 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Pacific Premier Bancorp by 106.9% in the third quarter. Brown Advisory Inc. now owns 990,083 shares of the financial services provider’s stock valued at $36,831,000 after purchasing an additional 511,440 shares during the last quarter. 79.28% of the stock is owned by hedge funds and other institutional investors.
In other Pacific Premier Bancorp news, Director Don M. Griffith sold 19,245 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $40.02, for a total transaction of $770,184.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ronald J. Jr. Nicolas acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were purchased at an average price of $29.39 per share, for a total transaction of $29,390.00. The disclosure for this purchase can be found here. Corporate insiders own 4.59% of the company’s stock.
A number of brokerages recently commented on PPBI. BidaskClub downgraded Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.00.
Shares of NASDAQ PPBI opened at $28.05 on Friday. Pacific Premier Bancorp, Inc. has a 52-week low of $26.70 and a 52-week high of $46.05. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.05.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). Pacific Premier Bancorp had a net margin of 23.18% and a return on equity of 8.54%. The firm had revenue of $120.26 million for the quarter, compared to analyst estimates of $121.43 million. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, equities research analysts predict that Pacific Premier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.
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About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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